What can I use the calculator for?

What is the purpose of the calculator?

Boat ownership has many significant costs and it can be confusing, especially for a first time buyer to estimate the cost of boat ownership in the long run. We also wanted to show boat owners and potential boat owners the impact that chartering can have on their purchase, especially on a platform like Sailo where you could have your boat listed in about 15 minutes and get instant access to thousands of qualified renters. Finally, for those who don't intend to use their boats that often, we wanted to show how ownership compares to renting and when it makes more financial sense to do one vs the other.

This is a way for us to give back to the community that supports us and help you better plan your future boating costs.

What factors are taken into consideration when calculating rent vs buy?

Costs under ownership are complex - considerations such as financing, insurance, property tax by location, tax deductions, docking, maintenance, fuel, add-ons (dinghy, electronics), and other items (survey, courses) are all taken into account.

Is it usually better to rent or to buy?

It depends on a wide variety of factors, but the main differentiator is the number of days of use per year. Generally, the more days the boat is in use, the more likely it is that buying will make more financial sense. If you also intend to charter the boat when you don’t use it, it will make even more sense to buy.

How accurate is the estimate for chartering revenues?

Chartering revenues are based on internal Sailo metrics from our database. We have used charter data from almost 5,000 boats. The calculations may vary depending on your location, taxes, and the charter price you will set.

How do I use the Boat Financing section?

The “Financing” tab functions as a boat loan calculator. The loan interest rate, years financed, and down payment can be easily modified to your needs. The boat calculator will display the total cash outflow: principal and interest paid over the term of the loan, as well as the monthly payment. The full report can be emailed and serve as a helpful budget planner, just click on “Create Report” on the bottom of the screen.

How do you calculate Boat Insurance?

The “Insurance” tab provides the yearly costs of insurance and registration, as well as the cumulative totals. The insurance average costs are based on information provided, including percentage premium and yearly registration. These can left at the default rates if you do not have exact information.

How do you calculate Boat Maintenance costs?

Boat Maintenance costs are based on winterization and spring prep costs. These are based on the zip code of where your boat is located. Other Maintenance costs are based on a percentage of the boat’s market value, age, type and average usage. Total boat maintenance costs are best estimates, but can vary widely.

How do you calculate Boat Taxes?

Boat taxes are wholly dependent on the zip code of where the boat is located. This includes sales tax and property tax. If the boat is stored in Delaware, Oregon, Puerto Rico or the US Virgin Islands, you will have zero tax liability, whereas it is the most expensive to be a boat owner in Rhode Island and Virginia.

What are the Boat Addons?

How do you calculate Boat Fuel and fuel price?

Boat Fuel costs are a function of type of fuel (gas or diesel), fuel consumption per hour, hours spent at cruising speed per day, and the price per gallon. The price per gallon is the average US price updated regularly and we advice you adjust it accordingly to your area as it can vary widely